Freedom Broker analyst Danial Yermakhan initiated coverage of Aeluma with a Buy rating and $23 price target. Aeluma's proprietary process grows high-performance InGaAs materials on 12-inch silicon wafers, says the analyst, who views the company as positioned to capture key insertion points across smartphone, AI data center, and automotive LiDAR markets previously restricted by expensive legacy substrates by "merging III-V materials performance with Silicon scalability."
